DANNY BEN-SHAHAR April 2018

Transcription

1 DANNY BEN-SHAHAR April 2018 Alrov Institute for Real Estate Research address: Coller School of Management Telephone: Tel Aviv University Fax: P.O. Box 39040, Tel Aviv, Israel A. EDUCATION B.A. in Economics Department of Economics, Tel Aviv University, Tel Aviv, Israel M.B.A. Haas School of Business, University of California at Berkeley, Berkeley, California Ph.D. in Finance and Real Estate Haas School of Business, University of California at Berkeley, Berkeley, California (Ph.D. Committee included: Robert Edelstein [Chair], John Quigley, and Nancy Wallace). B. ACADEMIC AND PROFESSIONAL EXPERIENCE Academic Experience Lecturer and Director of the Real Estate Program The Arison School of Business, The Interdisciplinary Center Herzliya, Herzliya, Israel Senior Lecturer Faculty of Architecture and Town Planning, Center for Urban and Regional Studies, Technion Israel Institute of Technology, Haifa, Israel (tenured since 2011) Present Senior Lecturer and Director of the Alrov Institute for Real Estate Research Coller School of Management, Tel Aviv University, Tel Aviv, Israel. Professional Experience Continental Mutual Funds Ltd. (Bank Hapoalim Group), Israel. Member of the Board of Directors and Member of the Investment Committee Adgar Investment and Development Ltd., Israel (International Real Estate Corporation).

2 Page 2 of 14 Member of the Board of Directors Present Zur Shamir Holdings Ltd., Israel. Member of the Board of Directors. Editorial Boards 2006-Present International Journal of Strategic Property Management Member of the Editorial Board Present Cornell Hotel and Restaurant Administration Quarterly Member of the Editorial Board Present Technological and Economic Development of Economy Member of the Editorial Board Present Journal of Sustainability & Environmental Management Member of the Editorial Board Present Journal of Sustainable Real Estate Member of the Editorial Board. C. ACADEMIC AND PROFESSIONAL AWARDS External Grants 1996 $5,000, funded by The Pinhas Sapir Center for Development $5000, funded by The Pinhas Sapir Center for Development Real Estate Development and Revitalization of Underserved Communities in Israel A Technical Real Estate Training Program under the Center for Urban and Regional Studies (joint with UCLA). Principal Investigator, $70,000, funded by the Jewish Federation of Los Angeles Studying Cap Rates in Commercial Properties. Principal Investigator, 40,000 NIS, funded by the Ministry of Justice, Department of Land Appraisal The Tenure Choice as a Natural Experiment in a Survival Analysis Framework: The Case of the Israeli Public Housing Sector. Principal Investigator, 164,000 NIS, funded by the Israel Science Foundation Irrationality in the Public s Earthquake Preparedness: An Empirical Analysis of the Israeli Case. Principal Investigator, 135,700 NIS, funded by the Ministry of Science and Technology Ir(Rationality): New Perspectives on Decision-Making in the Real Estate Market (international workshop). Principal Investigator, 60,000 NIS, funded by the Israel Science Foundation.

3 Page 3 of Ratchet Price Mechanism under Currency Changeover: A Natural Housing Market Experiment. Principal Investigator, 25,000 NIS, funded by the Alrov Institute for Real Estate Research Toward a New Approach for Estimating Housing Affordability: The Case of Housing Sub-Affordability and Inequality in Israel. Principal Investigator, 170,000 NIS, funded by the Israel Science Foundation Crime, Fraud, and Real Estate Prices. Principal Investigator, 199,000 NIS, funded by the Survey of Israel Green Housing: On the Correlation between the Willingness-to-Pay and Individual Characteristics. Principal Investigator, 182,000 NIS, funded by the Ministry of Environment Protection On the Bi-Directional Association between Crime and Real Estate Prices Before and After Gentrification Principal Investigator, 105,000 NIS, funded by the Survey of Israel. Fellowships Prizes 2001 Elected as Post-Doctoral Honoree, Homer Hoyt Advanced Studies Institute, Weimer School of Advanced Studies in Real Estate and Land Economics, Florida (a unique forum for fostering academic work that improves the quality of decision making in real estate and land economics) Elected as Fellow of the Weimer School of Advanced Studies in Real Estate and Land Economics at the Homer Hoyt Institute, Florida (a unique forum for fostering academic work that improves the quality of decision making in real estate and land economics) Winner of the 2003 American Real Estate Society (ARES) Foundation Best Paper Award for the paper Default, Credit Scoring, and Loan-to-Value: A Theoretical Analysis under Competitive and Non-Competitive Mortgage Markets (published in the Journal of Real Estate Research) Received the Morley Blankstein Academic Lectureship in Architecture and Town Planning, Technion Israel Institute of Technology, Israel Winner of the Global Chinese Real Estate Congress (GCREC) 2010 Conference Best Paper Award for the paper Funds from Operations versus Net Income: Examining the dividend-relevance of REIT performance measures (with E. Sulganik and D. Tsang) Winner of the International Council of Shopping Centers 2010 Asian Real Estate Society (AsRES) Conference Best Paper Award for the paper Funds from Operations versus Net Income: Examining the dividend-relevance of REIT performance measures (with E. Sulganik and D. Tsang) Received the Outstanding Referee 2013 award by the Editors of Real Estate Economics for outstanding service of the journal.

4 Page 4 of 14 E. MEMBERSHIP IN PROFESSIONAL SOCIETIES American Real Estate and Urban Economics Association Regional Science Association, International Urban Economics Association F. DOCTORAL STUDENTS SUPERVISED Kobi Warszawski Title: Studies on Housing Affordability Roni Golan Title: Three Essays on Real Estate Prices in an Imperfect Market 2015-Present David Ash Tel Aviv University. G. MASTERS STUDENTS SUPERVISED Ricky Keisar Title: Is Social-Environmental Policy Profitable? An Examination Using Stock Price Behavior in Israel Silvia Sohn-Lavi Title: The Location of Human Care Facilities and the NIMBY Phenomenon: Existing Knowledge and Examination of the Case of Tel Aviv (Avodat Gmar) Amir Hefetz Title: Make or Buy under a Municipal Framework (primary supervisor: Daniel Shefer) Danna Nachmani Title: Ownership versus Rental: An Economic Examination of the Tenure Mode in Residential Real Estate in Israel Inbal Koren

5 Page 5 of 14 Title: Behavioral Economics in the Housing Market: Framing, Anchoring, and the Law of Small Numbers Roni Golan Title: Real Estate Personality: Do Personality Traits Correlate with Preferences in the Real Estate Market? Carina Ben-Zvi Title: Status and the City: Optimal Spatial Planning of Residential Building Height (Avodat Gmar) Ran Broidess Title: National Master Plan No. 38 (NMP for Seismic Retrofit of Existing Buildings): Examining Financial Feasibility and the Top Floor Barrier in Residential Buildings in Tel Aviv, Ramat Gan, and Givataim Lili Friedler Title: Irrationality in Coping with Earthquakes: NOP 38 as a Case Study H. OTHER ACADEMIC AND PROFESSIONAL ACTIVITIES Referee Real Estate Economics; Journal of Housing Economics; Journal of Real Estate Finance and Economics; Regional Science and Urban Economics; Journal of Regional Science; Journal of Real Estate Research; Journal of Real Estate Literature; Journal of Urban Affairs; Journal of Housing and the Built Environment; Journal of Economic Psychology; Journal of Behavioral and Experimental Economics; Journal of Money, Credit and Banking; The Quarterly Review of Economics and Finance; Journal of Economic Behavior and Organization; International Journal of Strategic Property Management; The B.E. Journals in Economic Analysis and Policy; Urban Geography; Housing, Theory and Society; Letters in Spatial and Resource Sciences; Journal of Zhejiang University Science A; Economics Quarterly; Israel Science Foundation (Grant Referee); United States Israel Binational Science Foundation (Grant Referee); Ministry of Science and Technology (Grant Referee); The Pinhas Sapir Center for Development (Grant Referee). Public Service Chairman of Appeal Committee, The Real Estate Appraisers Association in Israel, Israel Member of the Exemption Committee, The Real Estate Appraisers Association in Israel, Israel.

6 Page 6 of Member of the Real Estate Appraisal Council (Academic Representative), The Real Estate Appraisers Association in Israel, Israel Co-initiator (with O. Blum and E. Tolkovsky) of the plea against the Israel Tax Authority that led to the disclosure of all real estate transactions data in the Israeli market Member of the Public Advisory Board for the Statistics of Housing and Construction, Central Bureau of Statistics, Israel Member of the Search Committee for the Chief Government Land Appraiser Co-initiator (with O. Blum and N. Ziv) of the letter to the Supervisor of Banks in Israel regarding cancellation of mortgage prepayment fee. The action led to a revision (mandated by the Supervisor of Banks) in the computation of the mortgage prepayment fee Member of the Council for Higher Education (Malag) committee assigned to examine an M.A. in real estate program Initiator of the plea against the Supervisor of Banks in Israel to disclose all mortgage loan data in the Israeli housing market Reviewer on behalf of the Council for Higher Education (Malag) for assessing a B.A. in real estate program 2016-Present Chair of the Public Advisory Board for the Statistics of Housing and Construction, Central Bureau of Statistics, Israel. Selected Plenary/Invited Talks Bar-Ilan University, Faculty of Law, Law, Planning and Real Estate Program, Israel, April 2006 (presenting: Shapley cost allocation coincides with relative status: The case of skyscrapers ). Bar-Ilan University, Faculty of Law, Law, Planning and Real Estate Program, Israel, June 2009 (presenting: Real estate games ). Ve'idat Ha'ir La'Assakim (Ha'ir Conference for Business), Eilat, Israel, January 2010 (Panel on Real Estate or Capital Market Where Should the Money Be Put? ). Tel Aviv University, Urban Renewal Conference, Tel Aviv, Israel, May 2010 (presenting Housing affordability in Israel : Analysis according to income deciles ). Affordable Housing in Israel Why, for Whom, and How?, Tel Aviv University, Tel Aviv, Israel, May 2010 (presentation titled Psycho-Economic Aspects of Real Estate Ownership and Rental ). The Knesset, Economic Affairs Committee, Jerusalem, Israel, July 2012 (presenting Examining and proposing the cancellation of the prepayment penalty in mortgage loans ). The Knesset, Symposium on The Face of the Israel Society: A Look at the Large Cities, Jerusalem, Israel, January 2015 (presenting Housing distress in Israel: New evidence ). Governmental Real Estate Forum, Jerusalem, Israel, May 2015 (presentation title Another look at housing affordability inequality in Israel ).

7 Page 7 of 14 The Knesset, Transparency and Accessibility of Government Information Committee, Jerusalem, Israel, March 2016 (presenting Absence of Transparency in the Israeli Mortgage Market ). Land Appraisals Council, Graduation Ceremony, Jerusalem, July 2016 (presenting Social gaps and housing affordability in Israel ). Western Galilee College, 4 th Management and Economics Symposium on Real Estate Management, Akko, Israel, November 2016 (presenting What Happened to Housing Affordability in Israel? ). Beit Berl, Progressive Economists Seminar, Beit Berl, Israel, April 2017 (presenting Housing Affordability Inequality in Israel and the U.S. ). A. ARTICLES Published PUBLICATIONS On the optimality of the hybrid tenure mode, Journal of Housing Economics, 7 (1998) pp A study of the optimal brokerage cost allocation in a rental housing market with asymmetric information, The Journal of Real Estate Finance and Economics, 23 (2001) pp The value of the rent control option (with D. Feldman, and D. Greenberg). The Journal of Real Estate Finance and Economics, 24 (2002) pp Reprinted in New Directions in Real Estate Finance and Investment (Eichholtz and Patel, Eds., Kluwer Academic Publishers, Boston, 2002). Theoretical and empirical analysis of the multi-period pricing pattern in the real estate market, Journal of Housing Economics, 11 (2002) pp A performance comparison between dwellings and financial assets in Israel, Journal of Real Estate Literature, 11 (2003) pp Signaling-screening equilibrium in the mortgage market (with D. Feldman), The Journal of Real Estate Finance and Economics, 26 (2003) pp Productive signaling equilibria and over-maintenance: An application to real estate markets, The Journal of Real Estate Finance and Economics, 28 (2004) pp Selective enforcement of copyrights as an optimal monopolistic behavior (with A. Jocob), The B.E. Journal of Economic Analysis and Policy, Vol. 3 (2004) Article 18. Can co-owners agree to disagree? A theoretical examination of voting rules in coownerships (with E. Sulganik), The Journal of Real Estate Finance and Economics, 31:2 (2005) pp

8 Page 8 of 14 Screening mortgage default risk: A unified theoretical framework. Journal of Real Estate Research, 28:3 (2006) pp Tenure Choice in the housing market: Psychological vs. economic factors, Environment and Behavior, 39:6 (2007) pp Partial ordering of unpredictable mobility with welfare implications (with E. Sulganik), Economica, 75 (2008) pp Default, credit scoring, and loan-to-value: A theoretical analysis under competitive and non-competitive mortgage markets, Journal of Real Estate Research, 30:2 (2008) pp Property appraisal in high-rises: A cooperative game theory approach (with Y. Deng and E. Sulganik), Journal of Housing Economics, 18 (2009) pp Fair depreciation: A Shapley value approach (with E. Sulganik), The B.E. Journal of Theoretical Economics, 9 (2009) (Issue 1). The straight-line depreciation is wanted, dead or alive (with Y. Margaliot and E. Sulganik), Journal of Real Estate Research, 31:3 (2009) pp Mean reversion and momentum: Another look at the price-volume correlation in the real estate market (with Y. Arbel and E. Sulganik), The Journal of Real Estate Finance and Economics, 39:3 (2009) pp The local cost of terror: Effect of the Second Palestinian Intifada on Jerusalem house prices (with Y. Arbel, Y., S. Gabriel, and Y. Tobol), Regional Science and Urban Economics, 40 (2010) pp Funds from Operations versus Net Income: Examining the dividend-relevance of REIT performance measures (with E. Sulganik and D. Tsang), Journal of Real Estate Research, 33:3 (2011) pp Vacancy chains and the degree of mobility in the housing market (with E. Sulganik), The Annals of Regional Science, 47:3 (2011) pp The correlation among immigrant homeownership, objective and subjective characteristics, and active citizenship: New evidence from the Israeli experience (with Y. Arbel and Y. Tobol), Urban Studies, 49 (2012) pp Real estate and personality (with R. Golan), Journal of Behavioral and Experimental Economics, 53 (2014) pp Reviewed in the The Wall Street Journal, October 31, Anchoring and housing choice: Results of a natural policy experiment (with Y. Arbel and S. Gabriel), Regional Science and Urban Economics, 49 (2014) pp

9 Page 9 of 14 Inequality in housing affordability: Measurement and estimation (with J. Warszawski), Urban Studies, 53 (2016) pp Does IFRS 10 on consolidated financial statements abandon accepted economic principles? (with E. Sulganik and D. Tsang), Australian Accounting Review, 26:4 (2016) pp Are the disabled less loss averse? New evidence from the housing market (with Y. Arbel and S. Gabriel), Economic Inquiry, 54:1 (2016) pp Anchoring under currency substitution: A ratchet price mechanism in the housing market (with R. Golan), Real Estate Economics, 45:4 (2017) pp Housing affordability and inequality: A normative approach (with S. Gabriel and R. Golan), Innovations in Management (Hebrew) (forthcoming). Housing affordability and inequality: A consumption-adjusted approach (with S. Gabriel and R. Golan), Journal of Housing Economics (forthcoming) Can t get there from here: Affordability distance to a superstar city (with S. Gabriel and R. Golan), Regional Science and Urban Economics (forthcoming). B. CHAPTERS IN BOOKS Published Ben-Shahar, D., G. Benchetrit, and E. Sulganik, The Israeli mortgage market: Mortgage insurance as a mechanism for screening default risk. In Mortgage Markets Worldwide (Ben-Shahar, Leung, and Ong, Eds., Blackwell Publishing). Ben-Shahar, D., and J. Warszawski, Partly cloudy to clear: The Israeli economy and the local housing market under the storm of the world financial crisis. In Global Housing Markets: Crises, Policies, and Institutions (Bardhan, Edelstein, and Kroll, Eds., John Wiley & Sons). D. EDITED BOOKS AND SPECIAL ISSUES D. Ben-Shahar, C. Leung, and S. E. Ong, eds., Mortgage Markets Worldwide (Blackwell Publishing 2008). Co-editor (with S. Gabriel and S. Oliner), Special Issue of Regional Science and Urban Economics on Housing Affordability (work-in-progress). E. PAPERS PRESENTED IN SCIENTIFIC MEETINGS

10 Page 10 of 14 Tel Aviv University, The Pinhas Sapir Economic Policy Forum, Land Policy and Housing Market in Israel, 1997 (presenting Real estate co-ownership in Israel: From completing the market to reforming the rent control program ). Chicago, January 1998 (presenting at the Tenure Choice session). The Israel Economic Association, Annual Conference, Jerusalem, May 1999 (presenting at the Pricing session). New York, January 1999 (presenting at the Brokerage session). Cambridge-Maastricht Real Estate Finance and Investment Symposium, Maastricht, Netherlands, June 2000 (presenting The value of the rent control option ). Boston, January 2000 (presenting at the Rent Control and Land Use Regulations session). American Law and Economics Association, Eleventh Annual Meeting, Washington DC, May 2001 (presenting at the Antitrust Economics and Law session). Israel Economic Association, Annual Conference, Israel, May 2001 (presenting at the Real Estate session). Homer Hoyt Advanced Studies Institute, Weimer School of Advanced Studies in Real Estate and Land Economics, Florida, May 2001 (presenting Signalingscreening equilibrium in the mortgage market ). American Real Estate and Urban Economics Association, International Conference, Cancun, Mexico, May 2001 (presenting at the House Prices over Time session and the Determinants of Housing Prices session). European Real Estate Society, Eighth European Real Estate Society Conference, Alicante, Spain, June 2001 (presenting Signaling-screening equilibrium in the mortgage market ). Cambridge-Maastricht Real Estate Finance and Investment Symposium, Cambridge, England, June 2001 (presenting Signaling-screening equilibrium in the mortgage market ). University of California at Berkeley, Fisher Center for Real Estate and Urban Economics, Department Seminar, September 2001 (presenting Signalingscreening equilibrium in the mortgage market ). Atlanta, January 2002 (presenting at the Residential Mortgage Contracting and Pricing session). American Economic Association, Annual Conference, Atlanta, January 2002 (presenting Selective enforcement of copyrights as an optimal monopolistic behavior ). Cambridge-Maastricht Real Estate Finance and Investment Symposium, Maastricht, Netherlands, June 2002.

11 Page 11 of 14 Intellectual Property and Antitrust: Monopolies in Competition Symposium, Haifa University, Israel, June 2002 (presenting Selective enforcement of copyrights as an optimal monopolistic behavior ). IDC-UBC-USC Real Estate and Urban Economics Symposium, The Interdisciplinary Center, Israel, December Washington DC, January 2003 (presenting at the Behavioral Finance and Real Estate session). Washington DC, January 2003 (presenting at the Real Estate Brokerage and Auctions session). American Real Estate and Urban Economics Association, International Conference, Cracow, Poland, June 2003 (presenting at the Housing and Public Policy session). The Asian Real Estate Society International Conference, Singapore, July (presenting at the Housing Market Studies session). Singapore-Hong Kong International Real Estate Research Symposium, Singapore, July The Hebrew University of Jerusalem, Finance and Accounting Seminar, Israel, December 2003 (presenting Default, credit scoring, and loan-to-value: A theoretical analysis under competitive and non-competitive mortgage markets ). Technion Israel Institute of Technology, Faculty of Architecture and Town Planning Colloquium, Israel, January 2004 (presenting Tenure choice in the housing market: Psychological vs. economic factors ). Singapore-Hong Kong International Real Estate Research Symposium, Hong Kong, August The Chinese University of Hong Kong, Department of Economics Seminar, Hong Kong, August 2004 (presenting Shapley cost allocation coincides with relative status: The case of skyscrapers ). Bar-Ilan University, Business School Seminar, Israel, October 2004 (presenting Tenure choice in the housing market: Psychological vs. economic factors ). Philadelphia, January 2005 (presenting at the Housing Choice and Duration Models session). University College, Third Annual Research Symposium, Dublin, March 2005 (presenting Shapley cost allocation coincides with relative status: The case of skyscrapers ). Bar-Ilan University, Economics Department Seminar, Israel, March 2005 (presenting Shapley cost allocation coincides with relative status: The case of skyscrapers ). Singapore-Hong Kong International Real Estate Research Symposium, Singapore, July Massachusetts Institute of Technology, MIT Center for Real Estate Seminar, October 2005 (presenting Shapley cost allocation coincides with relative status: The case of skyscrapers ).

12 Page 12 of 14 Technion-TAU-USC Israel Real Estate and Urban Economics Symposium, Israel, May 2006 (presenting: Shapley cost allocation coincides with relative status: The case of skyscrapers ). Tel Aviv University, Department of Geography and Human Environment, Israel, June 2006 (presenting Shapley cost allocation coincides with relative status: The case of skyscrapers ). American Real Estate and Urban Economics Association, International Conference, Vancouver, Canada, June 2006 (presenting at the Housing Volatility session). Homer Hoyt Advanced Studies Institute, Weimer School of Advanced Studies in Real Estate and Land Economics, Florida, January 2007 (presenting Shapley cost allocation coincides with relative status: The case of skyscrapers ). Israel Planners Association, Annual Conference, Israel, March 2007 (presenting Shapley cost allocation coincides with relative status: The case of skyscrapers ). Regional Science Association International, 5 th Israeli-British-Irish Workshop, Modeling Spatial Economic Behavior session, Israel, April 2007 (presenting Reredeveloping downtown: Behavioral bargaining in real estate markets ). The Hebrew University of Jerusalem (Department of Agricultural Economics and Management Seminar), Israel, December 2007 (presenting Shapley cost allocation coincides with relative status: The case of skyscrapers ). Housing Market Theory session, New Orleans, January 2008 (presenting How do we know which housing market allows greater mobility? ). Israeli Regional Science Association, Annual Meetings, Ben-Gurion University, Beer-Sheva, Israel, April 2008 (presenting How do we know which housing market allows greater mobility? ). Amsterdam-Cambridge-UNC Charlotte Symposium on Real Estate Risk Management, Amsterdam, June 2008 (presenting Mean reversion and momentum: Another look at the price-volume correlation in the real estate market ). American Real Estate and Urban Economics Association, International Conference, Games session, Istanbul, Turkey, July 2008 (presenting Fair depreciation: A Shapley value approach ). The 2 nd Technion-TAU-UBC-UCLA Israel Real Estate and Urban Economics Symposium, Tel Aviv, Israel, July 2008 (presenting Mean reversion and momentum: Another look at the price-volume correlation in the real estate market ). 3 rd Israeli-Netherlands Workshop in Regional Science, Jerusalem, Israel, November 2008 (presenting Mean reversion and momentum: Another look at the price-volume correlation in the real estate market ). Homer Hoyt Advanced Studies Institute, Weimer School of Advanced Studies in Real Estate and Land Economics, Florida, January 2009 (presenting Mean reversion and momentum: Another look at the price-volume correlation in the real estate market ).

13 Page 13 of 14 FIG Working Week, Surveyors Key Role in Accelerated Development, Eilat, Israel, May 2009 (presenting The price of terror: Effects of the Second Palestinian Intifada on Jerusalem house prices ). American Real Estate and Urban Economics Association and Asian Real Estate Society Joint International Conference, Los Angeles, USA, July 2009 (presenting Tenure choice, good citizenship, and Immigration Characteristics: New evidence from the Israeli experience ). Israeli Regional Science Association, Annual Meetings, Tel Aviv University, Tel Aviv, Israel, January 2010 (presenting The Local Cost of Terror: Effect of the Second Palestinian Intifada on Jerusalem House Prices ). The 3 rd HU-TAU-Technion-UBC-UCLA Israel Real Estate and Urban Economics Symposium, Jerusalem, Israel, July 2010 (presenting The local cost of terror: Effect of the Second Palestinian Intifada on Jerusalem house prices ). Israeli Regional Science Association, Annual Meetings, Haifa University, Haifa, Israel, December 2010 (presenting Housing affordability in Israel: Empirical analysis ). Ben Gurion University of the Negev, Guilford Glazer Faculty of Business and Management Seminar, January 2011 (presenting Real estate personality: Do personality traits correlate with preferences in the real estate market? ). Chicago, USA, January 2012 (presenting Anchoring and housing choice: Results of a natural policy experiment ). Bar-Ilan University, Business School Seminar, Israel, January 2012 (presenting Anchoring and housing choice: Results of a natural policy experiment ). Israeli Regional Science Association, Annual Meetings, Hebrew University (Faculty of Agriculture), Rechovot, Israel, February 2012 (presenting Anchoring and housing choice: Results of a natural policy experiment ). Technion Israel Institute of Technology, Faculty of Architecture and Town Planning Colloquium, Israel, March 2012 (presenting Anchoring and housing choice: Results of a natural policy experiment ). The Israel Economic Association, Annual Conference, Behavioral Economics session, Tel Aviv, May 2012 (presenting Anchoring and housing choice: Results of a natural policy experiment ). Israeli Regional Science Association, Annual Meetings, Ben-Gurion University of the Negev, Beer Sheva, Israel, January 2013 (presenting That which does not kill us makes us stronger : Examining loss aversion among disabled persons ). Tel Aviv University, Business School Seminar, Israel, June 2013 (presenting Anchoring and housing choice: Results of a natural policy experiment ). Israeli Regional Science Association, Annual Meetings, Ort Braude College, Carmi el, Israel, January 2014 (presenting Inequality in housing affordability: Measurement and estimation ). Technion Israel Institute of Technology, Faculty of Architecture and Town Planning Colloquium, Israel, March 2014 (presenting Inequality in housing affordability: Measurement and estimation ).

14 Page 14 of 14 The Israel Economic Association, Annual Conference, Real Estate Market and Affordable Housing session, Tel Aviv, May 2014 (presenting Ratchet price mechanism under currency changeover: A natural housing market experiment ). Israel International Real Estate and Urban Economics Symposium, Tel Aviv, June 2014 (presenting Anchoring and housing choice: Results of a natural policy experiment ). American Real Estate and Urban Economic Association, International Conference, Reading, England, July 2014 (presenting Inequality in housing affordability: Measurement and estimation ). Boston, USA, January 2015 (presenting Ratchet price mechanism under currency changeover: A natural housing market experiment ). Israeli Regional Science Association, Annual Meetings, Technion Israel Institute of Technology, Haifa, Israel, February 2015 (presenting Effective housing affordability and household characteristics: A standardized housing consumption approach ). Faculty Room Meeting, Faculty of Law, Tel Aviv University, Israel, May 2015 (presenting Anomalous transactions in the real estate market ). Tel Aviv University, Faculty of Management (Strategy Seminar), Israel, November 2015 (presenting Improved information shock and price dispersion: A natural experiment in the housing market ). Hebrew University of Jerusalem, Department of Environmental Economics and Management, Israel, November 2015 (presenting Improved information shock and price dispersion: A natural experiment in the housing market ). San Francisco, USA, January 2016 (presenting Housing affordability and inequality: A consumption based approach ). American Real Estate and Urban Economic Association, International Conference, Alicante, Spain, July 2016 (presenting Time-to-sell and willingness to pay for newly developed green and conventional condominiums ). Tel Aviv University, Conference on Housing Affordability, Tel Aviv, July 2016 (presenting Housing affordability and inequality: A consumption-based approach ). Chicago, USA, January 2017 (presenting Improved information shock and price dispersion: A natural experiment in the housing market ). Israeli Regional Science Association, Annual Meetings, The Western Galilee College, February 2017 (presenting Green versus conventional housing: Time-tosell and willingness to pay ). American Enterprise Institute, Conference on Housing Affordability, Washington, April 2017 (presenting Measures of housing affordability and inequality ). Israeli Regional Science Association, Annual Meetings, Ben-Gurion University of the Negev, February 2018 (presenting Tax fraud in the housing market: Identification and Exploration ).